700.7405 Charitable trusts; purposes; enforcement.
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700.7405 Charitable trusts; purposes; enforcement.
Sec. 7405.
(1)A charitable trust may be created for the relief of poverty, the advancement of education or religion, the promotion of health, scientific, literary, benevolent, governmental, or municipal purposes, any purpose described in section 501(c)(3) of the internal revenue code, 26 USC 501, or other purposes the achievement of which is beneficial to the community.
(2)If the terms of a charitable trust do not identify a particular charitable purpose or beneficiary, the court may select 1 or more charitable purposes or beneficiaries. The selection shall be consistent with the settlor's intention to the extent it can be ascertained.
(3)The settlor, a named beneficiary, or the attorney general of this state, among others, may maintain a proceeding to enforce a charitable trust. The right of the settlor of a charitable trust to enforce the trust is personal to the settlor and may not be exercised by any of the following:
(a)The settlor's heirs, assigns, or beneficiaries.
(b)The settlor's fiduciary, other than the trustee of the charitable trust the enforcement of which is being sought.
(c)An agent of the settlor acting pursuant to a durable power of attorney, unless the right to enforce the trust is expressly conferred on the agent by the power of attorney.
History: 1998, Act 386 , Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46 , Eff. Apr. 1, 2010
Popular Name: EPIC